This page goes through receiving a refund and how to split expenses. This is to do with re-assigning different tags. So if you split the rent with someone or only pay part of the wifi bill, this is where we can sort this out.
If you make a purchase but then receive a refund, or you make the full payment of a household bill and then receive a portion back from a partner/housemate for their share, there are features in place to show you the net amount in the reporting. In this instance you would need to apply the exact same tag to both the incoming and outgoing transactions.
Important to note
The only way to do this accurately is to give the incoming and outgoing transactions the exact same tag. If this is also a monthly occurrence then you can select Tagging Similar Transactions so this gets done accurately in the future. This will allow you to see the correct values in the reporting
You make a £900 rent payment to the landlord. However, your 2 flatmates both send £300 each to you. You would:
- Tag all the transactions as rent
- Go to the spend category chart and go to settings
- Ensure the Credit Transactions (That's transactions into your accounts) box is enabled
- The resulting chart will give a net spend of £300 rather than the full £900.
But what if i get more money back in refunds than i spent?
There is a similar example to this in the My Budget Says I have spent £0..... But I haven't article. So lets say you spent £50 on dinner. If you're friends accidentally repay you £60 then you would have spent -£10. The Spend by Category chart is a SPEND chart. What that means here is any categories that are less than £0 will not be displayed. If you don't have the credit transactions box checked on the chart then, in our example it would only show the £50 you had spent.